Fabulous content Sean, 👌 so thankful! I’m wondering if you would do a video that’s actually on the platform, demonstrating how this is done in the Airbnb system? 🙏
Great video - helps folks that dont have much historical data play tetris better :) But i think the best part of this channel is slowly watching this guy turn into Lou Ferrigno. Would be great to see a "how to maximize margin with long term discounts in high, and low season" video.
Airbnb told me the rule set takes priority over anything else. Something to keep in mind if using that discount with dates option. You can't have a rule set applied to those days. I think doing 1 night bookings is way too risky and not worth it. Just try to get longer, but go down too 2 nights if you have to fill a gap. Especially if you own the property.
My listing looking really really good and have had zero listing in 2 weeks and I am priced, at the best lowest price in my area and in heart of the city ill give it a few more days and then I need to revape my entire listing.
For your example at the beginning of the video, I'd rather have 4000/day for 8 weekend days, probably some will extend it to Sundays as well, which is between 32k and 40k than have my penthouse booked for 35k for a month... What you save on electricity and wear & tear is worth the difference.
Hey Sean this video is a bit old so not sure if you’re responding to us on here still, however do u recommend using the 20% new listing discount Airbnb recommends? If so how do we properly do it.
Good video once again Sean; one thing that I have been thinking about is defining what the best criteria are for MLOS. In the video you mention 3/4/7/28 days - Is there any science/data behind it - i.e. why not do 5/6/10/28days. The other part that i have been thinking about a fair bit, is how do we communicate with potential guests about the benefits of booking for longer. With the strategy above it is 're-active' to someones search on an OTA (i.e. they will put their dates in and then get a result), rather than being pro-active in encouraging people to book that extra night.
Exactly what I'm also wondering! When a person enters the dates of their search, and sees the prices for their results, how do they know there is a discount available if they book for additional nights?
Awesome video! So I had a 3 night min, and then lowered it down to 2. So in order for me to hit all those different types of stays, should I be opening it to 1 night minimum’s as well and then apply the discounts? Thanks!
Does air bnb apply the discount to your actual price or the average price? I followed your advice on another discount and instead of applying the discount to my 950 a night peak season they applied the discount to my average or 450 a night. Cost me 1500!
I have pricelabs but cannot find a way to do a custom number of days discount, only a weekly/monthly discount on the Airbnb app. Is this something available only for an account with multiple properties? We just have one property.
Hey Sean, can you make a video about lowering the nightly rate and also reducing the number of guest? Not sure if you’ve done this before? I have a 2 bedroom basement suite and have allowed 4 guest but now I’ve lowered it to 2. Due to my low rate of $100 per night. As I don’t want a group of 4 or parties due to low nightly fee.
Here is my suggestion: you should allow 4 guests. give your 100$ rate for two guests, and in the additional fees section, add, for example, 30-45$ for each guest above 2.... this way you have basic 2 guests for 100$ and up to 4 guests for almost double..
If I want $180 per night, I price my 1 day at $260 (44% above) , 3 days at 11% discount, 4 day at 21% discount, 7 day at 31% and a month at 41%.. sounds aggressive but at the 7 day discount I reach my target price. Works a treat.
If you have 100% occupancy then you are sure to have room to increase your prices. Start increasing your prices for future bookings and as the dates get closer then decrease the prices.
Hi Sean I was thinking about buying your pricing strategy program on your website. But I noticed that lately you've been posting a lot of videos regarding rule sets and length of stay discounts. Is the program still relevant? What is included there that is not included here on youtube?
By the way thank you so much for always posting high quality content. What I mean to ask is if your program is still relevant factoring in all the changes that Airbnb has made in this winter release?
I will be doing a new pricing class soon so I would hold off. unless you go with the full cracking superhost then you'll get realtime coaching and all my most up to date teachings
I am confused 😳 I have 3 nights minimum weekdays and 4 nights minimum weekends And of course I get plenty of gaps still with 2 nights that can’t get booked because of these rules. Before when I had 2 days minimum I was only getting booked Friday and Saturday. I am kind of clueless. Don’t quite understand these pricing strategies 😳
Hi Romi, I think you're misunderstanding the concept. Sean encourages persons to use a 1-night minimum stay. But recommends setting the price for one night quite high to discourage persons from booking 1 nights. This strategy increases listing visibility and in turn SEO ranking because your listing will be seen and reviewed by more persons. He also promotes increasing your price to offer discounts that are competitive at 3 and 4 nights. The same principle can be applied to 7 and 28 night stays. Thereby encouraging persons to book these longer periods. These discounts are set using rule sets. Watch his other pricing videos for more details on rule sets. If you’re setting 3 and 4 night minimum stays you are essentially reducing the visibility of your listing which will also reduce your Airbnb SEO ranking. You can set a 1-night minimum stay but use rule sets to control booking behaviour and achieve 3 and 4 night stays. Of course, you’ll have to customise these principles based on your context and goals. Watch Sean other videos on pricing strategy and rule set to get a better understanding. By using these principles, including a 1-night minimum stay at a high cost which is then discounted from 2 nights onwards, you would be better able to plug those gaps in your calendar. Some of those gaps are likely orphan nights. Booking those nights generally requires a reduction in nightly price (to increase visibility) which you can do manually or by using rule sets. Hope this helps.
@@deborahhenningham2076 thank you soo much!!! ❤️ I understand much better now the way you explain it 😍 I really did not want 1 night stays and I did not understand what he was saying. Now I get it that’s more about SEO rather then an actual booking 😃 Now what I get still confused is that I am using PriceLabs which I don’t think is much different then Wheelhouse and all my rule sets are in PriceLabs not Airbnb site . My understanding is that Sean is explaining how to use rule sets into Airbnb. The thing is that if I start making rule sets into Airbnb PriceLabs won’t be able to override it and they will be add on top of my rule sets that I already have into PriceLabs. That’s a big mess 😳 It will be discounts on top of discounts. He had another video where he goes over a 20% / 7 days discount that he says to set into Airbnb to trigger their algorithm. Then he says to set another rule set to increase the rate by 25% to counterweight this discount. I don’t understand where is he applying this 25% increase? I contacted PriceLabs they said it not possible to do this for 7 days anytime . I have to pick what days I want the discount apply to . But the Airbnb does not have this capability to pick certain days . They only have length of days . Hopefully you can understand this better and explain it to me please 🙏🏻 Thank you so much ❤️❤️❤️ PS I contacted Wheelhouse too and they can’t do it either 😳
@@romi929 Sure, my pleasure, you’re most welcome. Please see below my responses to some of your questions/statements. Statement 1: “My understanding is that Sean is explaining how to use rule sets into Airbnb.” Response 1: Yes, Sean is explaining how to use rule-sets in Airbnb. Based on my understanding, if you apply these principles outside Airbnb’s platform you may not benefit as much as someone doing it on the Airbnb platform, since Airbnb rewards you for using their platform-specific features. It’s likely though that using an external software to apply discounts is still beneficial since price is a critical component in Airbnb’s algorithm. Statement 2: “But the Airbnb does not have this capability to pick certain days . They only have length of days” Response 2: There are a few ways to apply discounts on Airbnb. I will mention two methods here. The most common method is by going to “Pricing and availability” then “Discounts” there you can set nightly, weekly and monthly discounts. This method applies discounts across the entire calendar once a booking meets the length of stay criteria. With this method you are not able to choose which days the discounts are applied. Recently, in this same section, Airbnb has added the options of Custom Weekly Prices and Custom Monthly Prices. Here you set your PRICE for the specific week or month. Of course, you can essentially apply a discount based on the price that’s set. On the flip side, you can also increase prices for specific week(s) or month(s) as the need arise. The next option for applying discounts is via Airbnb’s rule-set. This can now be accessed via your calendar when you select a date or specific dates on your calendar. Please note that you first have to create rule-sets before you are able to add them to specific date(s). A great detail of customisation and pricing strategies are possible via Airbnb rule-sets. Statement 3: “He had another video where he goes over a 20% / 7 days discount that he says to set into Airbnb to trigger their algorithm. Then he says to set another rule set to increase the rate by 25% to counterweight this discount. I don’t understand where is he applying this 25% increase?” Response 3: Sean has suggested increasing your base price by 25% (manually or via a dynamic pricing software such as Price Lab, Wheel House or Beyond Pricing) then applying a 20% discount via Airbnb rule-sets. Why? (1) Airbnb rewards listings that use their platform-specific features such as rule-sets (2) by doing this, you will benefit without a price reduction, and (3) 20% seems to be the sweet spot for Airbnb SEO boosts. This 20% discount is not limited to 7 nights. It can be applied to any night or many nights on your calendar using rule-sets. Will a 20% weekly or monthly discount result in similar perks? Perhaps. Statement 4: “Now what I get still confused is that I am using PriceLabs” Response 4: I’ve never used Price Labs so I can’t help with queries relating to this software. In the past I’ve linked Beyond Pricing to my calendar, but not anymore, though I now use it for reference. I review their suggested prices and use it as one of my data points, before adjusting my prices. Based on the info I’ve learned on this channel, I use Airbnb rule-sets to manage my calendar. Continue watching, exploring, learning and applying the principles. You’ll soon get the hang of it and become a pro….Practise makes perfect….One one cocoa full basket. All the very best.
